Shares of Ares Capital Corp. (NASDAQ:ARCC) were down 0.4% during mid-day trading on Friday . The company traded as low as $13.96 and last traded at $13.96, with a volume of 3,344,913 shares traded. The stock had previously closed at $14.01.

A number of analysts have recently issued reports on ARCC shares. Zacks Investment Research raised shares of Ares Capital Corp. from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Wednesday, April 20th. Jefferies Group reaffirmed a “buy” rating and set a $17.50 price objective on shares of Ares Capital Corp. in a research report on Thursday, May 5th. TheStreet raised shares of Ares Capital Corp. from a “hold” rating to a “buy” rating in a research report on Monday, May 9th. Finally, National Securities started coverage on shares of Ares Capital Corp. in a research report on Tuesday, June 28th. They set a “neutral” rating and a $16.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $16.93.

The stock has a market cap of $4.38 billion and a P/E ratio of 10.76. The company’s 50-day moving average price is $14.45 and its 200-day moving average price is $14.31.

Ares Capital Corp. (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, May 4th. The investment management company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The company earned $248 million during the quarter, compared to analyst estimates of $255.19 million. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 EPS. On average, equities research analysts forecast that Ares Capital Corp. will post $1.55 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were given a $0.38 dividend. The ex-dividend date of this dividend was Monday, June 13th. This represents a $1.52 annualized dividend and a dividend yield of 10.89%.

Several institutional investors have modified their holdings of the stock. Buckhead Capital Management LLC raised its position in shares of Ares Capital Corp. by 4.8% in the fourth quarter. Buckhead Capital Management LLC now owns 91,475 shares of the investment management company’s stock valued at $1,304,000 after buying an additional 4,200 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Ares Capital Corp. during the fourth quarter valued at about $1,423,000. P.A.W. Capital Corp raised its position in shares of Ares Capital Corp. by 66.7% in the fourth quarter. P.A.W. Capital Corp now owns 150,000 shares of the investment management company’s stock valued at $2,138,000 after buying an additional 60,000 shares in the last quarter. Green Square Capital LLC raised its position in shares of Ares Capital Corp. by 2.2% in the fourth quarter. Green Square Capital LLC now owns 154,528 shares of the investment management company’s stock valued at $2,202,000 after buying an additional 3,296 shares in the last quarter. Finally, Boston Partners raised its position in shares of Ares Capital Corp. by 2.5% in the fourth quarter. Boston Partners now owns 211,162 shares of the investment management company’s stock valued at $3,009,000 after buying an additional 5,119 shares in the last quarter.

Ares Capital Corporation is a specialty finance company that is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. The Company invests primarily in the United States middle-market companies.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.